LONDON, UK / ACCESSWIRE / October 13, 2017 / Pro-Trader Daily takes a closer look at Saul Centers Inc. (NYSE: BFS) as the Company's stock will begin trading ex-dividend on October 16, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior (excluding weekend) to the ex-dividend date that is by latest at the end of the trading session on October 13, 2017. Are you looking for research on dividend stocks? If so, register with us now for your free membership at:
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Dividend Declared
On September 21, 2017, Saul Centers declared a quarterly dividend of $0.51 per share on its common stock, to be paid on October 31, 2017 to holders of record on October 17, 2017. The Company's common dividend is consistent with the amount paid in the previous quarter and represents an 8.5% increase over the amount paid in the prior year's comparable quarter.
Saul Centers' indicated dividend represents a yield of 3.20%, which is substantially above the average dividend yield of 3.10% for the financial sector.
Dividend Insights
Saul Centers has a dividend payout ratio of 63.2%, which means that the Company distributes approximately $0.63 for every $1.00 earned. The dividend payout ratio reflects how much amount a Company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
Saul Centers' trailing twelve-month earnings is $1.58, while its annualized dividend is $2.04. One of the primary reasons for the difference between earnings and annualized dividend is that Saul Centers is a Real Estate Investment Trust (REIT), which is structured by law to distribute at least 90% of earnings. Moreover, since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.
Since depreciation is a non-cash charge, it does not directly impact the ability of dividend the companies can distribute. For this reason, Fund from Operations (FFO) is calculated by adding depreciation and amortization to earnings and subtracting any gains on sales provides a better picture of company's profitability and capacity to pay and to sustain dividends. For instance, Saul Centers' net income attributable to common shareholders was $8.4 million, or $0.38 per diluted share, for Q2 2017, compared to $7.5 million, or $0.35 per diluted share, for Q2 2016. On the other hand, the Company's FFO available to common stockholders and non-controlling interests was $23.0 million, or $0.78 per diluted share, in Q2 2017, compared to $21.0 million, or $0.73 per diluted share, in Q2 2016. The FFO indicates that the Company should be able to comfortably cover the dividend payout.
As of June 30, 2017, Saul Centers' total assets were worth $1.42 billion, while total liabilities were $1.04 billion, compared to total assets worth $1.34 billion and total liabilities of $969.78 million as on December 31, 2016. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
About Saul Centers Inc. (NYSE: BFS)
Saul Centers is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 58 properties which includes:
(a) 49 community and neighborhood shopping centers and six mixed-use properties with approximately 9.2 million square feet of leasable area; and
(b) three land and development properties.
Approximately 85% of the Saul Centers' property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area.
Stock Performance
On Thursday, October 12, 2017, the stock closed the trading session at $64.64, slightly up 0.47% from its previous closing price of $64.34. A total volume of 27.08 thousand shares have exchanged hands. Saul Centers' stock price advanced 8.80% in the last three months, 2.83% in the past six months, and 1.78% in the previous twelve months. The stock is trading at a PE ratio of 40.91 and has a dividend yield of 3.16%. At Thursday's closing price, the stock's net capitalization stands at $1.41 billion.
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